News
Paul Hastings Advises Smithfield Foods on $1.4 Billion Senior Notes Offering
New York – Paul Hastings LLP, a leading global law firm, announced today that the Firm advised Smithfield Foods, Inc. in connection with a $1.4 Billion Senior Notes Offering and a previously announced intention to refinance certain existing credit facilities as part of a wider refinancing plan. Smithfield, together with its parent and affiliates, is the world’s largest hog production and pork processing company with operations in 23 U.S. states and 5 countries.
The Senior Notes Offering consists of $400 million aggregate principal amount of 2.700% senior notes due 2020, $400 million aggregate principal amount of 3.350% senior notes due 2022 and $600 million aggregate principal amount of 4.250% senior notes due 2027. Smithfield used a portion of the net proceeds of the senior notes offering to finance the repurchase of all of its outstanding existing 2017 notes pursuant to a tender offer, and to redeem its existing 2018, 2021 and 2022 notes.
The transactions were led by partners
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